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Marathon Digital Holdings Inc (NASDAQ:MARA) shares are trading lower. The company on Monday announced a proposed private offering of convertible senior notes.
What Happened: Bitcoin (CRYPTO: BTC) mining company Marathon Digital said it intends to offer $250 million worth of convertible senior notes due 2031 in a private offering to institutional buyers. The company expects to grant the initial purchasers a 13-day option to purchase up to an additional $37.5 million of the notes.
The notes will be unsecured, senior obligations and bear interest payable semi-annually on March 1 and Sept. 1 of each year. Holders of the notes will have the right to require Marathon Digital to repurchase for cash all or any portion of their notes on March 1, 2029.
Marathon Digital said it intends to use the net proceeds from the sale to acquire additional Bitcoin, as well as for general corporate purposes. As of July 31, Marathon Digital held a total of 20,818 unrestricted Bitcoin.
See Also: Crypto Analyst Says Bitcoin Could Hit $100,000, An 86% Surge
By now you're likely curious about how to participate in the market for Marathon Digital – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Marathon Digital, which is trading at $17.03 as of publishing time, $100 would buy you 5.87 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
MARA Price Action: Marathon Digital shares were down 5.16% at $16.15 at the time of publication, according to Benzinga Pro.
Photo: Shutterstock.
